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A First Right to Purchase a Property given by the Owner of the Property to a Party, in the event that the Owner receives an Offer from a third party to sell the Property to the third party
Details:
A First Right to Purchase a Property given by the Owner of the Property to a Party, in the event that the Owner receives an Offer from a third party to sell the Property to the third party.
Form Outline:
Right of First Refusal to Purchase Property
TO: Name of Person Receiving Right of First Refusal (the "Purchaser")
RE: Property municipally known as Municipal Address of Property (ie. 123 Anywhere Street, Anyplace, USA and described as Brief Description of Property (ie. a 2.1 acre parcel of land with a detached three bedroom home) (the "Property")
In consideration of the sum of Amount..., the Owner hereby agrees as follows:
If, on or before Termination Date of Right of First Refusal (ie. January 1, 2003), the Owner...
The Purchaser shall have Specify Period Within Which Purchaser must...
Upon receipt of the Matching Offer within the Matching Period, the Owner shall...
In the event that the Purchaser does not submit...
This Agreement shall enure...
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Name of Property Owner (Seller) |
Real Estate Forms
